tv Press Here NBC February 10, 2013 9:00am-9:30am PST
expect will be immigration reform. adriano fer ra know started his first newspaper at age 9, founded one of the oldest online news sources shortly thereafter. he speaks four languages and has won top awards at south by southwest twice. joined with richard and eric. i realize i put you in a bit of a corner here because i want to ask your opinion on immigration at a time in which you are trying to become a visa legal immigra immigrant. but it constantly frustrates me, and we've had people on this show before, talk about, well, if i don't get my visa, i'll just go back to my home country and start the same company anyway. and it frustrates me that america loses out on those people. >> well, i think this country needs immigration reform. the good news is there is comprehensive immigration reform
being discussed by the congress. the problem of this reform is that it wouldn't do anything good for people like me. why? because i don't have a diploma for science, technology, mathemat mathematics. i only have a political science diploma and i was an ex-fellow at stanford. so i think we are going -- slowly moving in the right direction, but what we should really try to have in this country is i think a start-up vi visa, so enabling any entrepreneur from all over the world to come to this country, maybe give them six to nine months, probably a year just to prove their concept and see at the end of this year they have let's say at least hired one person, they are good to go and they should be able to live here, work here, pay their taxes, and grow their company. >> given the globalization of the technology economy in particular, why is it so
important to be here? why couldn't you do what you wanted to -- i mean, it's good for us, but why is it good for you? >> i think because here in the state states, something missing in europe is this ecosystem. we're talking about having the academy awards working hand in hand with venture capitalists, with the entrepreneur, with scientists, researchers, in order to innovate nap's really something that's missing. and, you know, replicating silicon valley is something that many, many countries have tried to do, right? the french president in the '60s tripe tried to replicate something, a place with similar weather in southern france, but it didn't work out. >> isn't there a case, though, that you could in a world there where there's a lot of virtual resource where is you may have people who are writing code for you in india or romania and
you -- >> or italy. >> or italy. >> a lot of companies whose marketing and management are here while their developing centers are in italy. and i'm talking about a good friend, for example, an amazing association of entrepreneurs called mind bridge. that's their model. they have designers working for us in italy where they are charging prices almost as cheap as the ones in india. >> and there are examples of major technology, web start-ups like skype and others that have started in europe. >> yes. but in order to grow, they need to come here. there's another example is the competitor that recently opened an office in san francisco. not with many developers but mainly with the ceo, the management team. why? because the capital is here. because the ecosystem is here.
because here is where you can really -- >> but isn't it ironic that if we are going to have a strict, strict, strict immigration system we're telling people don't come here and try to invent what we've invented? it would protect us most, i would think, if we said yes, stay here because here is the only place that will actually work. if we absolutely adopted what you're saying and said if you're smart, if you're good, come over here, stay here, don't try to replicate what we did because we don't want the competition. >> sure. i think in our case -- my case i would have never started this business up for the ipod if i didn't have all these great professors who are oftentimes also investors, work at this start-up incubator where i've been mentoring younger entrepreneurs, giving a lot but also taking a lot from them in
terms of how they see the world, the kind of innovation they are ready to do. and it's also -- i think it's a matter of the vision that those people have, the fact that here everybody's risk averse. everybody's embracing not only success but also failure. right? the fact of being able to lure -- and it's probably something totally different from the east coast culture. >> that is interesting. talking about here, we literally mean santa clara or san mateo or san francisco counties. we're not talking about america itself. rich, you're with the online news association. have you had a chance to look at this watch-up is what he was talking about? an online -- you meld together -- >> mash-up. >> yeah, a mash-up. thank you. >> you create your own newscast. >> newscast. >> from video sources. i have looked at it and one of the questions i had is how the various content providers view
you. and also to the extent that the success of your app is based on the health of mainstream media providers, that industry isn't looking so good right now. so what does that mean for the future? >> one interesting thing -- and you know that because you've been working at the "wall street journal" for a while -- is that legacy newspapers have been rapidly moving towards more and more video production. "the wall street journal," for example, in the latest couple of years -- >> i was going to say rich invented online "wall street journal." but currently works for bloomberg. but go right ahead. >> exactly. and we have one of our mentors who's the father -- >> finish your point. i'm sorry. >> in terms of data, "the wall street journal" is already producing over 24 hours of original video production a day. we have -- they have viewers in china, in new york, and so on. so why?
because the cost per mile, which is the unit of advertising, i think is extremely high for vild owe production. again, i can give you the numbers for the journal, but i know they are very high. that's a the case for a lot of other organizations. "new york times" is doing the same. so as an ipod app we know that on the user side there is a need for more portable device that can just aggregate all the best news channels that are there. this is what we do. >> got to cut all of you off because we're going to run out of time. but traditional media is awesome. i think we'll leave it there. >> traditional media bring the quality of the experience. and this is what everybody wants in a device. >> flattery will get you everywhere. thank you for being here this morning. we appreciate it. >> thank you. it is fashion week in new york city and i bet you probably didn't know that. and there's the problem.
welcome back to "press: here." mark zuckerberg once attended a meeting with sequoia capital wearing pajamas. it was a decision he said later he regretted. and he's dressed up ever since, relatively speaking. >> this is the first time we're giving out the nasdaq hoodie. >> zuckerberg is so famous for wearing a hoodie that the head of the nasdaq gave mark a sweatshirt as an ipo gift. but we have noticed zuckerberg's been dressing up his act. >> my name is barack obama, and i'm the guy who got mark to wear a jacket and tie. >> maybe, just maybe, this is a sign of change in silicon valley
fashion. a ceo spotted sporting a blazer for a meeting with a venture capitalist, though the vc gets to wear jeans. clothing companies are targeting those silicon valley executives with a mix of traditional and digital commerce. a visit from a real-life tailor for measurements followed by online shopping to order a proper suit. richard hall is the founder of the website proper suit along with the dress shirt manufacturer called hall and madden. tech crunch says the clothing he sells is, quote, perfect for when a snarky t-shirt is not enough. thank you for joining us this morning. tell me the people you are marketing to. the young tech-savvy male is the very person who's unlikely to wear a suit. >> yeah. i get that a lot. and you're exactly right in that a lot of these guys who are young and they wear hoodies to work and they sort of dress down
because they need to be comfortable for coding all day. but these guys are getting older and a little more mature and, you know, mark got married, and they're starting to wear suits. where do they turn to in to the internet and find companies -- >> the natural place to look. >> right. >> what sort of suits or looks are young people -- with three old guys -- looking for? what's your sweet spot as far as -- >> well, at least in the valley a lot of our guys look for versatility. so sort of these founders, maybe they'll get a wedding suit but then say, richard, i want to be able to wear this after so we stick with solid colors and what not. >> so i'm curious about, you know, you talked about the founders wearing suits when they used to wear hoodies. but you need to have a larger audience than santa clara county. you're trying to get the average joe in town somewhere in america to go and by a suit online. is that a behavior that -- are people willing to do that or is
there not a bias toward -- >> or is it too advanced? >> they still want to go into their favorite retailer and -- >> shall we use peoria as the -- >> the new standard. >> a lovely -- but the standard average american town. is your site to advance peoria? >> our site is sort of a hybrid. what you're actually seeing is a lot of the bigger sort of online retailers, be it trunk club, they have physical presence. and they're opening what we call guide shops. we do something similar. we do a small variation where we have fitting specialists, pop-up shops in the various markets. so you're exactly right in that, you know, there still needs to be a little bit of interaction. but a little more online sort of a hybrid of the two. >> now, in hong kong once in a while i used to have a suit made. what i found was that you really couldn't just get the proper fitting in just one visit. but that's what you do,
basically. you spend an hour or so with the person? >> yeah, to a degree. >> able to get a good enough take on that person at that point? >> yeah. well, we're able to get it about 99% of the way there. and rather than -- like your hong kong tailors, they take your measurements and once they leave, then they design the pattern, our fitting specialists design the pattern and into that pattern into our auto cat system. so usually that auto cat pattern comes out pretty well. of course, like anything, anything can be improved and that's why we encourage a second meeting when we're back in the city just so we can tweak it. >> this brings up china. these are manufactured in china. right? >> correct. >> you spaend lot of time in chinese factories apparently sleeping on the floor was part of it. >> yeah. i spend quite a bit of time in asia, about 4 1/2 years, mostly working for sort of big-box retailers. >> let's talk about your other
biz. you're doing this online shirt business. >> by subscription. >> subscription. you can subscribe and get shirts. i'm curious about that model, the usual way to approach buying clothes. >> yeah. well, what we sort of see is when you look at where e-commerce has been growing, in 2011 we saw the rise of flash sales where price was the primary thing. 2012, we saw quality and convenience, more of a curated style. then here in 2013 what we're seeing is the melding of all three. so when you say subscription, it's more we either deliver it every three, four, or six nths. so i would say it's more on a schedule than sort of the monthly -- >> but you pay for them, but they just arrive and -- >> am i choosing them? am i picking i want a blue shirt and a striped shirt and a white shirt, or are you sending me a collection of what you --
knowing what i've ordered before or what you've shipped me before set of -- >> bearing in mind eric and i are both slaves to fashion. >> i was thinking the same thing. wouldn't you rather have him pick out the shirts for you? >> although you look very nice today. >> thank you. >> you're right. we see for the niche marketing, and it appeals to a specific type of person. somebody's put in 110 hours a week where they're, like, i treat these luxury dress shirts like commodities. you guys build out my wardrobe and i'll take care of the rest. >> speaking of the guy on television who get, of all things, makeup on his collar, i would appreciate a subscription to shirts. richard hall is the founder of proper suit. we appreciate you being with us this morning. >> thanks for the time, guys. up next, a former cia employee wanls to sell you a pair of really warm winter mittens. i will say it.
welcome back to "press: here." the u.s. post office recently declared it would no longer deliver mail on saturdays but was quick to say it would continue to deliver packages. you may be getting fewer letters because of the internet, but apparently you're getting more boxes shipped to your house. and, again, that's probably because of the internet. online shopping has taken another step forward beyond ebay and amazon with the advent of the tablet and electronic catalogs. this one is called coffee table and it mixes big retailers together. retailers like hellsburgs and lands' end and l.l. bean. ben choi is the ceo of coffee table. he's also venture capitalist running mavron capital with starbucks' founder howard schulz and spent time at the cia's silicon value chee capital arm
but left just before his secret clearance was complete. we should ask about that later, comrade. but in the meantime, in the last segment i carefully said i really like peoria. you're from peoria. >> you're in range. born and raised in peoria. that's what the cia told you. >> that's your cover story. your back story. so on this catalog -- and i played with it and it's very pretty. >> thank you. >> it reminds me of a certain degree of next issue, the magazine app. >> yep. >> it's interactive, colorful. lands' end and l.l. bean are in the same catalog. >> yes. >> which if i were lands' end i'd say i hate those guys, they're my biggest competitor, don't put me in the catalog with them. but you're saying that works. >> with l.l. bean and lands' end, both catalogs show up next to each other. they have no control over that. when they see nordstrom put
stores in the same mall, there's no control. they want to be in the same place where consumers want to shop. that's the goal for retailers. >> do you need their permission to kind of -- can you scrape their websites or -- >> we could scrape their websites. we don't do that. we actually partner with every single retailer. we have 200 retail brands we work with. we have a direct relationship with each one of them. our goal is to connect the right consume we are the right retailer. we could send consumers off to random websites and use a scrape to do that, but what we start with is the catalog experience. rich, print material, we have to work with the retailers to get that. >> from a consumer standpoint, the internet is one gigantic catalog. why do i need you? >> it is. so what we do is bring it to this device, this ipad -- >> got the internet on that, too. >> you can. you can. >> at least i've been told. >> rumor has it. >> that's right. the advent of the tablet device is why we started coffee table.
it changes the way the consumers engage with e-commerce. e-commerce up until this device was created is homework, where you do your utility shopping. that's only 10% of consumer shopping is online. the other 90%, we go into the mall, look at catalogs. that's why retailers ship 15 billion catalogs a year. >> i'm curious about the ability to mix with their rivals but lose control of the consumer experience you're having when you're shopping for their goods and services. even the checkup. if i use the application, using coffee table, and i order something from l.l. bean, am i ordering within the framework of the app or does it take me out to the web and i order from their website? how does that work? >> we've built technology in our app that allows retailers to create a checkout experience here in the app. when they take advantage of them, we see conversion almost
double. but many retailers choose not to, so it takes a little more effort and we send them to the website. >> this is where i think you would sell me on it. i have shopped on an ipad, the world of catalogs. until you get to the checkout screen and then you're typing in your credit card number and the form is about this big. but i assume you have some sort of speed key, some sort of pass word-protected -- >> that's right. >> and it's done. that's where i would be convinced. >> that's right. >> the catalogs are still separate. i go into the lands' end section and i browse almost as if i'm looking at a lands' end catalog. l.l. bean sells moccasins, so does lands' end. do you anticipate a point in which those two catalogs begin to merge and say here are all the moccasins? that might take some convincing. >> it would. there's a point it may happen in the future. far long time, though, from now, merchants will have a big role in why we shop and what we buy. the reason why you've all bought the suits you bought is because
a retailer told you either exclusively or -- it's going to be perfect. you didn't go online and search suit and buy these suits. >> richard hall would wish you would. he's still here. he's right over there. >> the audience and our audience specifically, women don't go online and search dress and google and buy dresses. it's not how much howe it works. so much of shopping is entertainment, looking at products that inspire you is entertaining. merchants inspire us with catalogs. >> i wonder to what extent this is a response to the role that amazon has played as being sort of the go-to place where you've got all these retailers trying to compete with, you know, the world's most gigantic assortment. >> when you need batteries you go to amazon. when you want a new black dress, amazon doesn't have a lot to offer. >> it's not curated. >> that's what catalogs are, curated merchandise. that's why retailer ships to 10 billion of -- >> that's the fascination of the in-flight cat wlog the silly dog things.
>> sky mall. >> yes. it's curated to be incredibly entertaining. >> one of the things i'm curious about is that scott alluded to earlier is the impact of postal service cuts on this entire field. >> yeah. >> is that going to make your business -- is that going to haven an impact on your business? >> it's good news for us. we're focused on e-commerce and cat loalog makers. u.s. postal rates have increased dramatically in the last ten years. move around saturday deliver vi good news because it means hopefully they'll start being a healthier business and actually share some of that cost savings with their customers. retail advertisers have been bearing the brunt of some of the cost increases, so if postal service rates can stay stable, the catalog industry will be happy. >> isn't there also the danger it goes in the opposite direction? the more cutbacks the postal
service makes the more that catalog marketers need to find some other place to sell -- >> you still join catalogs but maybe the end point somewhere down the road is only virtual catalogs, no more paper. >> ben, take a quick second. your venture capital experience is with the head of starbucks. >> yes. >> and the central intelligence agency. >> yes. >> do you prefer one over the other, one experience over the other? >> one of them -- i would love to tell you more but i care too much for your tv show. >> let me ask you this. i ask matt rickl of "the new york times." it must be fun to pick up the phone and say i'm calling from "the new york times." did you get to say i'm with the central intelligence agency? >> it's an amazing -- >> did you practice in front of the mirror? >> amazing calling card. i'm with the cia. >> ben choi, thanks for being with us this morning. continue if i wering what i thought. it's awesome to say you're with
team has been called the red wings since 1932. at joe louis arena, henrik zedderberg leads the team with goals and points in shots. today they face the tapten of the stanley cup champion games, co-leader of his team in points and as usual, up there in hits. the red wings and kings after this update from new york. thanks so much. we'll break down kings/red wings in just a moment but first saturday's highlights beginning with a battle for the top spot in the atlantic, the pens taking on the devils, late in the second, devils trail 1-0. mark andre fleury. game tied at 1. but devils win their fourth in a row. the 3-1 final over pittsburgh.